Crypto Hacks and Scams — #2 on the list

You own, invest, and stake your crypto to develop your wealth, but this Web3.0 ecosystem, although transparent, is completely unregulated. It is the ”Wild Wild West” — everyone is fending for themselves. So how do you ensure that someone else cannot simply take your digital finances without peace of mind that you could get it back? Insurance. Community. Period.

Image adapted from TheHackPosts

At #2: ~$147,000,000 (at least $102m) of excess COMP “leaked” from COMPOUND Labs Vault.

Reason for loss?: On September 29, 2021 COMPOUND Labs executed a governance protocol proposal, entitled ‘Split COMP rewards distribution’, to introduce “dynamic token reward distribution” and to “fix a few bugs” by changing the protocol’s ‘comptroller logic’.

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